The Pensions Trust is preparing to launch a multi-employer defined-contribution scheme targeting the voluntary sector ahead of automatic enrolment.
The scheme, called ‘SmarterPensions’, will provide a platform for employers to meet their regulatory obligations and is expected to compete on cost with existing master trusts in the market.
The firm says the scheme will launch later this year.
The Pensions Trust chief executive Stephen Nichols says: “Over the last year, we have listened to what the voluntary sector would like to see from its auto-enrolment offering, as well as the retirement concerns of members, and have been developing our brand new SmarterPensions DC concept in line with this.
“For the member experience we are working with ideas including target date funds and online interactive access, so investment performance can be monitored live at any time. For the employer we are developing a smarter process which is easy to administer and which offers exceptional value in these difficult times.
“We feel our new SmarterPensions concept will offer both new and existing members and employers a trust-based multi-employer DC scheme which provides stability, coupled with good products at a competitive price.”